Aviva Investors calls for private capital push 'to avert a climate catastrophe'

Recommends Bretton Woods II

Aviva Investors is calling for a new Bretton Woods conference in 2024 to mobilise private capital and reform the global financial system to prevent a climate disaster.

In a report published this week, the £353bn asset manager said that failure to do so would have "unprecedented" environmental, social and economic consequences, including the potential collapse of the financial system before the end of the century.  Mark Versey, chief executive at Aviva Investors, said:  "The global economy and financial system are currently financing their own destruction because the global financial architecture is not fit for purpose." He added: "We need key institutions in the architecture to create their own global transition plans for finance and to add climate ...